The cardiac pacemakers market is predicted to grow in terms of revenue in the forecast period. Increasing cardiovascular diseases is predicted to be the major driving factor for the market in the estimated period. Dual chamber pacemaker is predicted to hold the highest market share. Europe region is predicted to create more investment opportunity for the investors to invest in the projected timeframe.
The cardiac pacemakers market is predicted to generate maximum revenue in the forecast period. Increasing cases of cardiovascular diseases among the people and rise in the geriatric population is predicted to be the major driving factor for the cardiac pacemakers market in the forecast period. Moreover, government initiative in healthcare sector is predicted to drive the market in the forecast period. For instance, In March 2019, The Agency for Healthcare Research and Quality (AHRQ) has partnered with hospitals and healthcare systems to take the initiative and train them to improve the use of cardiac rehabilitation and obtain enhanced benefits. On the other hand, higher treatment cost is predicted to hamper the market growth in the forecast period. During this lockdown most of the healthcare institution focus on treating COVID patients and most of the equipment are used for treating the increasing cases of COVID due to which it is predicted to hamper the market growth in the 2020 For instance, In July FDA approves Abbott’s Bluetooth-connected pacemaker, defibrillator implants. Abbott has secured approvals from the FDA for its new generation of connected pacemakers and defibrillator implants. During this unpredicted situation, we are helping our clients in understanding the impact of COVID19 on the global cardiac pacemakers market.
According to a study conducted by Research Dive, the global cardiac pacemakers market is expected to register a revenue of $3.78 billion by 2027.
The global market is classified on the basis of product and end-use industry. The report offers the complete information about drivers, opportunities, restraints, segmental analysis and major players of the global market.
Factors Affecting the Market Growth
As per our analyst, increasing cardiovascular diseases among the population and rise in the geriatric population is predicted to be the major driving factor for the global cardiac pacemakers market in the forecast period. On the other hand, high treatment cost along with low awareness about the cardiovascular diseases is predicted to hamper the global cardiac pacemakers market in the forecast period.
Dual Chamber Pacemaker is Predicted to Grow Enormously
On the basis of product, the cardiac pacemakers market is further classified into single chamber pacemaker, dual chamber pacemaker and CRT pacemaker. Dual chamber pacemaker is predicted to grow enormously in the forecast period. Cost effective way of treating cardiovascular disease which ensure normal working of heart is predicted to drive the segment in the forecast period.
Clinic and Hospitals Segment is Predicted to Have the Maximum Growth Rate
On the basis of end user, the cardiac pacemakers market is further classified into clinic and hospitals, ASC’s and others. Clinic and hospitals segment is predicted to have the maximum growth rate in the forecast period. Increased availability of equipment to treat cardiovascular treatment and surgeries which improve the quality of care is predicted to boost the segment in the forecast period.
Regional Breakdown of the Market
On the basis of region, the cardiac pacemakers market is further classified into North America, Asia-Pacific, Europe and LAMEA. Europe region market is predicted to have the highest market share in the forecast period. Increased awareness among the population about the cardiovascular diseases and increased developed healthcare infrastructure is predicted to boost the region market in the forecast.
Top Companies Leading the Market
The major key player in the market are BIOTRONIK SE & Co. KG, Boston Scientific Corporation Medtronic, Abbott, LivaNova PLC, lepumedical.com, Osypka Medical GmbH, Pacetronix.com, MEDICO S.p.A., and OSCOR Inc among others.
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